Average rent in Lethbridge among most affordable in Canada

Of the 35 communities across the country listed, Lethbridge placed 31^st in its affordability. The average rent for a two-bedroom unit in the city was $1,041 in June 2021. That’s down 3.3 per cent month-over-month and down 9.4 per cent year-over-year.

Calgary was the most expensive city in Alberta last month, with a one-bedroom listed at $1,239 on average (25^th in Canada), and two-bedroom units going for $1,537 (26^th in Canada).

The average asking price for all Canadian properties listed on Rentals.ca in June jumped by 0.7 per cent after rising two per cent month-over-month in May. Further growth is expected for the rest of 2021 as the country begins to re-open more and more from the COVID-19 pandemic.

President of Bullpen Research & Consulting, Ben Myers, said “after unprecedented declines during the pandemic, the domestic rental market is in recovery mode with many of Canada’s largest cities seeing rent growth accelerate in June.”

“Unit showings are picking up, vacancies are declining and tenant demand is strong again in major downtown markets. However, it still could take eight to 15 months before most markets get back to their peak rent levels from late 2019.”

Year over year, average monthly rental rates in Canada were down 2.7 per cent, but that’s a big change from May when rates were down 5.7 per cent annually.

Vancouver continues to lead the country as the most expensive city to rent in. On average in June, a one-bedroom unit rented for $2,056 while a two-bedroom went for $2,765.

Below is how each Albertan municipality ranked on the list:

Calgary (25)
- One-bedroom unit average in June: $1,239
  - Up 1.9 per cent month-over-month, up 6.4 per cent year-over-year
- Two-bedroom unit average in June: $1,537
  - Up 0.5 per cent month-over-month, up 9.6 per cent year-over-year
Fort McMurray (28)
- One-bedroom unit average in June: $1,065
  - Up 0.2 per cent month-over-month, down 1.1 per cent year-over-year
- Two-bedroom unit average: $1,287
  - Up 2.7 per cent month-over-month, up 6.8 per cent year-over-year
Edmonton (29)
- One-bedroom unit average in June: $1,013
  - Up 2.2 per cent month-over-month, down 2.9 per cent year-over-year
- Two-bedroom unit average in June: $1,223
  - Up 0.7 per cent month-over-month, down 5.1 per cent year-over-year
Lethbridge (31)
- One-bedroom unit average in June: $956
  - Down 0.2 per cent month-over-month, up 0.2 per cent year-over-year
- Two-bedroom unit average in June: $1,041
  - Down 3.3 per cent month-over-month, down 9.4 per cent year-over-year
Red Deer (33)
- One-bedroom unit average in June: $933
  - Up 5.8 per cent month-over-month, up 7.2 per cent year-over-year
- Two-bedroom unit average in June: $1,075
  - Up 2.2 per cent month-over-month, listed as steady at 11.6 per cent year-over-year
Grande Prairie (35)
- One-bedroom unit average in June: $887
  - Down 1.7 per cent month-over-month, down 8.1 per cent year-over-year
- Two-bedroom unit average in June: $1,088
  - Up 2.1 per cent month-over-month, down 7.4 per cent year-over-year

by Justin Goulet

Average rent in Lethbridge among most affordable in Canada

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